With regulators the world over readying themselves for the interventionist bounce that inevitably follows a market crash, 2009 was already shaping up to be a key year for the FRC, even before the announcement on January 12 of the resignation of chief executive Paul Boyle
The appointment of Boyle’s successor will have a bearing on everything from FRC funding to the future of fair value. More significantly, it may well alter the Council’s strategy of injecting competition into the high-end audit market.
The thinking of the man or woman who takes over is likely to be the single most important factor in determining whether the likes of Grant Thornton, BDO Stoy Hayward and Mazars offer a serious challenge to the Big Four.
With Sir Christopher Hogg also due to stand down this year, the new chief executive will only wield more influence in this debate.
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